Decentralized finance and major DeFi protocols are sweeping the blockchain world at a rapid rate. Uniswap, Compound, Synthetics, Balancer, Curve, Sushi, etc., in a short time, immediately attracted the attention of the entire industry. At the same time, the concept of NFT has rekindled in recent days. Meme and Rari are in full swing, causing people to dream about them and try to rush in and experience them.
DeFi+NFT has brought Ethereum into flames, but it also brings high gas fees for on-chain transfers. In the peak period at the end of August, the handling fee for each transfer of ETH or ERC20 tokens is more than 10 US dollars, up to 550 Gwei. That is to say, even if your transfer amount is only 3,000 yuan, the handling fee will be more than 100 yuan, which is More expensive than SWIFT international remittance. The high gas fee completely keeps retail investors who want to participate in liquid mining out of the door. Some bloggers have calculated that at least 100,000 USDT or more of funds to participate in liquid mining is cost-effective. Therefore, this indirectly led to the rise of TRON DeFi.
(Compared to ETH, BTC is more congested)
Faced with this dilemma of congestion in the Ethereum network and excessive transfer fees, multiple defi protocols have opened new solutions-integrated L2 extension solutions. Synthetix has just completed the “Fomalhaut” upgrade recently. According to a blog post by Synthetix founder Kain Warwick, Synthetix’s “Fomalhaut” test network upgrade is the first phase of the migration to the Optimistic Ethereum expansion plan. This is an incentive test network designed to reduce the cost of gas fees for a small number of SNX holders, who may need to spend hundreds of dollars in gas fees to collect weekly rewards.
Uniswap will undergo a major upgrade in Uniswap V3. Uniswap founder Hayden Adams said that V3 will “solve all problems”, which means that Uniswap’s L2 may usher in a major upgrade.
Aave also stated that its “aTokens” (used to represent encrypted mortgage assets on the platform) will integrate EIP 2612 for approval without incurring gas fees. The Ethereum Improvement Proposal (EIP) allows transactions involving ERC-20 operations to use the token itself instead of ETH to pay for gas.
There are many proposals for L2 upgrade, as well as projects such as Nexus Mutual. In addition, the ZK Rollup and Optimistic Rollup that Ethereum founder Vitalik Buterin often mentions on Twitter are also one of the general directions in the future. Today our protagonist, Thanos, is trying to use the block lattice structure to innovatively solve the problem of high gas fees, so that the DeFi protocol and NFT token transfer fees are lower and faster.
Thanos high-performance encrypted blockchain
Thanos is a low-latency cryptocurrency system based on an innovative large-block data structure in the encryption era, which can be expanded indefinitely without paying transaction fees. According to the design, Thanos is a simple protocol whose sole purpose is to become a high-performance cryptocurrency. The Thanos protocol can run on low-power hardware, making it a practical and decentralized cryptocurrency for daily use.
Thanos uses a block lattice structure. Each account has its own blockchain (account chain), which is equivalent to the transaction/balance history of the account. Each account chain can only be updated by the account owner; this allows each account chain to be updated asynchronously to the rest of the block grid immediately, thereby achieving fast transactions.
In the Thanos network, the amount of network activity depends on the contribution of nodes to the network operation status. Trusted nodes, observation nodes, non-trusted nodes, and users constitute the ecology of the entire network. The Thanos blockchain has the following highlights:
1. Cloud data center operating system: Thanos’s protocol is very lightweight. Each transaction conforms to the minimum UDP packet size required for transmission over the Internet.
2. Composite big data source: Thanos allows each account chain to be updated to the rest of the block lattice immediately and asynchronously to achieve fast transactions.
3. Resource usage: Streamlined nodes are usually called lightweight, pruned or simplified payment verification (SPV) nodes.
Through the block lattice + SPV node, Thanos can achieve faster block transmission and token transfer, and better assist the development of DeFi ecology. At the same time, Thanos will also be compatible with the Ethereum network, forming an organic complement between the two parties.
Gain+ hits new Thanos
Gain+ is a new function launched by GJ Exchange. Gain+ advocates “subscribe full rebate and enjoy non-stop benefits”. For projects launched in the Gain+ area, users can deposit the corresponding amount of USDT in their account, or they can deposit coins in the current treasure, get coin tickets, and play for free new.
For example: You can deposit 1,000USDT to GJ Current Treasure, and enjoy an annualized income of 10%+ per year. At the same time, if a new project is launched in the Gain+ area, you can also receive 1,000USDT tokens and participate in Gain+ for new purchases, while 1,000USDT You can still receive the corresponding cash treasure income.
Thanos has been launched in the GJ Gain+ area. Thanos has a total of 100 million tokens. This time with GJ, a total of 4 million tokens were released this round, and the purchase price of each token was 5 cents (0.007USDT). Users can subscribe to receive a corresponding share of Thanos tokens based on the amount of their “deposited coins”. The specific process can be summarized as follows:
1 The user deposits a certain amount of USDT in the GJ account or Huoqibao
2 Determine the number of tokens
3Consumption of tokens, free purchase of Thanos
4 The purchase limit is determined and unlocked in batches
5 The user holds or sells Thanos for profit
